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6 Sep 2013
GBP/USD stable over 1.5600 despite easing off highs
FXstreet.com (Lisbon) - The GBP/USD foreign exchange rate refused to give back most of its gains Friday, storming above the 1.5600 region earlier and not looking back since.
In the United Kingdom, the NIESR GDP Estimate (3M) was reported at +0.9% in August, relative to estimates of +0.7% previously.
GBP/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The stochastic for the GBP/USD is showing a negative bias after touching overbought areas, despite the recent jump on the heels of the payroll data in the U.S. A weekly close above 1.5600 will signal near-term bearishness is not dominant.”
GBP/USD technical levels
The GBP/USD is trading off its highs at 1.5681, instead operating at 1.5634 in these moments, relegated to a gain of +0.27% thus far during US trading. In terms of the technical levels, the GBP/USD advance will need to penetrate resistance at 1.5651, onto 1.5706, notes the Mataf.net analyst team.
In the United Kingdom, the NIESR GDP Estimate (3M) was reported at +0.9% in August, relative to estimates of +0.7% previously.
GBP/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The stochastic for the GBP/USD is showing a negative bias after touching overbought areas, despite the recent jump on the heels of the payroll data in the U.S. A weekly close above 1.5600 will signal near-term bearishness is not dominant.”
GBP/USD technical levels
The GBP/USD is trading off its highs at 1.5681, instead operating at 1.5634 in these moments, relegated to a gain of +0.27% thus far during US trading. In terms of the technical levels, the GBP/USD advance will need to penetrate resistance at 1.5651, onto 1.5706, notes the Mataf.net analyst team.